Copper Firms as Easing Oil Calms Inflation Worries

- February 25th, 2011

Financial Post reports thatcopper kept gains as easing energy prices calmed worries that inflation would dampen global economic growth, but mixed U.S. economic data and concerns over further Middle East violence limited its advance.

Financial Post reports thatcopper kept gains as easing energy prices calmed worries that inflation would dampen global economic growth, but mixed U.S. economic data and concerns over further Middle East violence limited its advance.

The market news is quoted as saying:

“The economic numbers haven’t been that strong today which has been a surprise for the market, but focus now is on the Middle East,” analyst Arne Rasmussen of Danske Bank said.

“Definitely the last couple of days we’ve seen this fear that rising oil prices would dampen global growth, but prices are a bit more stable today, so optimism is returning,” he said. “People are suddenly realising copper below $10,000 might be a bargain.”

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